AstraZeneca Announces Decision to Discontinue Collaboration With AtheroGenics Regarding AGI-1067
LONDON, April 23, 2007-AstraZeneca today announced that it has
decided to terminate the License and Collaboration Agreement with
AtheroGenics, Inc. (Nasdaq: AGIX), regarding AGI-1067.
AGI-1067, an investigational anti-atherosclerotic agent, was studied in the ARISE (Aggressive Reduction of Inflammation Stops Events) phase III clinical outcomes trial in patients with coronary artery disease (CAD). The initial results from ARISE were announced by AtheroGenics on 19 March 2007 and presented at the American College of Cardiology on 27 March 2007.
The decision to terminate the collaboration was reached following a full analysis of the AGI-1067 product profile in the context of the terms and conditions of the License and Collaboration agreement.
Provisions for the impairment of intangible assets and associated close down costs of $83m to be taken in 1Q 2007.
23 April 2007
Patricia O’Connor, Tel: +46 708 46 76 33
Edel McCaffrey, Tel: +44 (0) 207 304 5034
Steve Brown, Tel: +44 (0) 207 304 5033
Mina Blair, Tel: +44 (0) 207 304 5084
Jonathan Hunt, Tel: +44 (0) 207 304 5087
Karl Hard, Tel: +44 (0)207 304 5322
Jörgen Winroth, Tel: +1 (212) 579 0506
Ed Seage, Tel: +1 302 886 4065
Notes to Editors
The ARISE study
ARISE was a double-blind, randomised, placebo controlled study which involved more than 6,000 patients with coronary artery disease from over 250 centres in Canada, South Africa, the UK and the US. The study was designed to evaluate the additional benefits of adding AGI-1067 to current standard of care therapies, on several outcomes due to coronary vascular events such as death, heart attack, stroke, revascularisation and hospital admission for unstable angina.
AstraZeneca is a major international healthcare business engaged in the research, development, manufacture and marketing of prescription pharmaceuticals and the supply of healthcare services. It is one of the world's leading pharmaceutical companies with healthcare sales of $26.47 billion and leading positions in sales of gastrointestinal, cardiovascular, neuroscience, respiratory, oncology and infection products. AstraZeneca is listed in the Dow Jones Sustainability Index (Global) as well as the FTSE4 Good Index
Posted: April 2007